Governors’ Party Affiliation and State Index Performance
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School of Business |
Bachelor's thesis
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Date
2023
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Mcode
Degree programme
Rahoitus
Language
en
Pages
21+11
Series
Abstract
In this paper thesis I investigate the influence of governors' political affiliations on state stock market performance in the United States. Utilizing the Fama-French three-factor model, I analyse the excess returns of state stock indices from July 1963 to December 2022. My findings, primarily showing statistically insignificant results, indicate that gu-bernatorial political affiliation does not significantly impact state stock market returns.Tässä tutkielmassa tutkin kuvernöörien poliittisten kantojen vaikutusta osavaltioiden osakemarkkinoiden tuottoihin Yhdysvalloissa. Hyödynnän Fama-Frenchin kolmifaktorimallia analysoidakseni osavaltioiden osakeindeksien ylimääräisiä tuottoja ajalta heinäkuu 1963 – joulukuu 2022. Tulokseni, jotka ovat pääosin tilastollisesti merkitsemättömiä, osoittavat, että kuvernöörien poliittisella kannalla ei ole merkittävää vaikutusta osavaltioiden osakemarkkinoiden tuottoihin.Description
Thesis advisor
Lof, MatthijsKeywords
stock, market, performance, Fama-French, model, USA, state, indices